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Report: West Virginia In Economic Recession
By: Associated Press
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BECKLEY, W.Va. (AP) – A new report indicates that West Virginia is in an economic recession.
The Mountain State Business Index has found that West Virginia has seen deterioration in economic activities since the spring of 2015.
The economic recession has been largely a result of the decline in the coal industry. The index found that in March there was a 3.1 percent month-to-month decline in coal production. It also found that there were month-to-month gains registered for natural gas production.
The index combines seven economic indicators to measure the expected swings in the state’s economic activity.
John Deskins, director of West Virginia University’s Bureau of Business and Economic Research, says the state’s recession is expected to continue into the summer. He says that outcomes vary across the state.